| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Fair |
| Demographics | 10th | Poor |
| Amenities | 30th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 38110 5th St E, Palmdale, CA, 93550, US |
| Region / Metro | Palmdale |
| Year of Construction | 1985 |
| Units | 96 |
| Transaction Date | 1999-01-21 |
| Transaction Price | $840,000 |
| Buyer | H K REALTY INC |
| Seller | ALINIAZEE MOHAMMED T |
38110 5th St E Palmdale Multifamily Investment
This 96-unit property benefits from high rental occupancy at 97th percentile nationally, indicating strong tenant demand in the Los Angeles metro's Antelope Valley submarket.
The neighborhood demonstrates strong rental fundamentals with occupancy rates ranking in the 97th percentile nationally among 1,441 metro neighborhoods, indicating robust tenant demand. Demographics within a 3-mile radius show 54.5% of housing units are renter-occupied, creating a substantial tenant pool for multifamily properties. Median household income of $59,941 supports rental affordability, while forecasted income growth to $90,836 by 2028 suggests improving purchasing power among renters.
Built in 1985, this property aligns with the neighborhood's average construction year of 1974, positioning it competitively within the local housing stock without immediate major capital expenditure concerns. The area features adequate grocery access with 2.16 stores per square mile ranking in the 84th percentile nationally, supporting tenant retention through essential amenity availability. Restaurant density of 17.26 per square mile ranks in the 95th percentile nationally, enhancing neighborhood appeal.
Rental market fundamentals appear stable with median contract rent at $1,405 within the 3-mile radius, while neighborhood-level rent of $1,268 suggests competitive pricing opportunities. Home values averaging $358,447 create elevated ownership costs that reinforce rental demand, keeping households in the multifamily market rather than transitioning to ownership.
Safety metrics show mixed performance relative to the Los Angeles metro area. Property crime rates rank 1,258th among 1,441 metro neighborhoods with a national percentile of 14%, indicating elevated property crime compared to national averages. However, violent crime trends show improvement with a 9.3% decrease year-over-year, ranking in the 59th percentile nationally for crime reduction trends.
Investors should factor security considerations into property management budgets and tenant screening processes. The improving violent crime trajectory suggests positive momentum, though property crime levels warrant attention to security measures and insurance coverage as part of operational planning.
The property benefits from proximity to established employers in aerospace, waste management, and corporate services, providing workforce housing for local employment centers.
- Waste Management - Palmdale — waste management services (1.7 miles)
- Lockheed Martin Aeronautics Co. — defense & aerospace (2.5 miles)
- Amerisourcebergen — healthcare distribution (27.3 miles)
- Boston Scientific Neuromodulation — medical devices (27.6 miles)
- Charter Communications — telecommunications (28.8 miles)
This 96-unit property presents stable cash flow potential supported by exceptional occupancy fundamentals and demographic tailwinds. According to CRE market data from WDSuite, the neighborhood's 97th percentile national ranking for rental occupancy share indicates sustained tenant demand, while forecasted household growth of 29.6% by 2028 within the 3-mile radius expands the renter pool. The 1985 construction year positions the asset for potential value-add improvements without immediate major capital requirements.
Income growth projections show median household income increasing 51.5% to $90,836 by 2028, supporting rent growth potential and tenant retention. High home ownership costs averaging $358,447 reinforce rental demand by keeping households in the multifamily market. The property's location provides workforce housing for nearby aerospace and corporate employers, creating employment-driven tenant stability.
- Exceptional occupancy fundamentals with 97th percentile national ranking for rental demand
- Strong demographic growth with 29.6% household increase forecast through 2028
- Income growth trajectory supporting 51.5% median household income increase by 2028
- Proximity to aerospace and corporate employers providing workforce housing demand
- Risk consideration: Property crime levels above national averages require security planning